,While no investment is completely passive, proper real estate investing should be relatively boring.You asked about the process and major considerations.

We went through this process twice with them.

If you want to be vary hands on in the process find an agent that will guide you every step.

It's probably unlikely anything too bad would happen excluding natural catastrophes but why take the risk if the profit potential isn't there?

I imagine the whole process is simpler but can anyone tell me how different it is when you don't borrow the rehab costs?

I found it very unlikely that the government would not want to get their piece of the pie, especially if they had purchased a new primary home.Donyou have a Tax Code or Publication Number you can share so I can study up and understand your thought process more in depth?

For instance - I am looking to see if anyone has experience with installing recessed lighting into a horse hair plaster ceiling and if anyone could offer advice on the process I should take when doing so? 

Now you repeat that process until it's paid off.Disadvantages:It took a while for me to set up.Bank account is always low, lol.People can spend a lot with that amount of credit.People think I'm weird when I tell them DId you analyze what would happen if you moved all of that money you were using to pay off a heloc, not get a heloc and put that money in a treasury or other type of account that got you 6% interest or invest in an ETF or something lower risk?

If your firend wants to stay in the place AND has the funds/income to do so, they need to refinance in their name ASAP (as part of the process), not 5 yeas from now, not if they remarry, not 10years from now.   

I need to do some research on what credit score I need to actually begin this process